US Bancorp DE decreased its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) by 20.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,827 shares of the financial services provider's stock after selling 13,978 shares during the quarter. US Bancorp DE's holdings in Columbia Banking System were worth $1,508,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the business. Tidal Investments LLC lifted its holdings in Columbia Banking System by 1.1% during the 3rd quarter. Tidal Investments LLC now owns 43,184 shares of the financial services provider's stock valued at $1,128,000 after purchasing an additional 464 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Columbia Banking System by 1.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 39,256 shares of the financial services provider's stock valued at $1,025,000 after purchasing an additional 544 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in Columbia Banking System by 2.0% during the 4th quarter. Pacer Advisors Inc. now owns 31,238 shares of the financial services provider's stock valued at $844,000 after purchasing an additional 612 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Columbia Banking System by 1.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 49,684 shares of the financial services provider's stock valued at $1,342,000 after purchasing an additional 621 shares during the last quarter. Finally, Caprock Group LLC lifted its holdings in Columbia Banking System by 2.5% during the 3rd quarter. Caprock Group LLC now owns 28,371 shares of the financial services provider's stock valued at $741,000 after purchasing an additional 682 shares during the last quarter. Institutional investors and hedge funds own 92.53% of the company's stock.
Insiders Place Their Bets
In other news, VP Torran B. Nixon sold 4,481 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $25.99, for a total value of $116,461.19. Following the completion of the transaction, the vice president now owns 104,869 shares of the company's stock, valued at approximately $2,725,545.31. This represents a 4.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.62% of the company's stock.
Columbia Banking System Trading Up 0.3 %
Shares of Columbia Banking System stock opened at $25.04 on Friday. The firm has a market capitalization of $5.25 billion, a PE ratio of 9.86 and a beta of 0.62. The business's 50-day moving average price is $27.31 and its 200-day moving average price is $27.46. Columbia Banking System, Inc. has a 12 month low of $17.08 and a 12 month high of $32.85.
Columbia Banking System (NASDAQ:COLB - Get Free Report) last issued its earnings results on Thursday, January 23rd. The financial services provider reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.06. Columbia Banking System had a return on equity of 11.21% and a net margin of 17.99%. As a group, analysts predict that Columbia Banking System, Inc. will post 2.71 earnings per share for the current fiscal year.
Columbia Banking System Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 5.75%. The ex-dividend date is Friday, February 28th. Columbia Banking System's dividend payout ratio (DPR) is currently 56.69%.
Wall Street Analysts Forecast Growth
COLB has been the topic of several recent research reports. Wells Fargo & Company upgraded Columbia Banking System from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $33.00 to $35.00 in a research report on Monday, January 6th. Stephens lowered their price objective on Columbia Banking System from $33.00 to $31.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 28th. Keefe, Bruyette & Woods lowered their price objective on Columbia Banking System from $34.00 to $33.00 and set a "market perform" rating on the stock in a research report on Friday, January 24th. UBS Group initiated coverage on Columbia Banking System in a research report on Tuesday, December 17th. They set a "neutral" rating and a $32.00 price objective on the stock. Finally, JPMorgan Chase & Co. lowered their price objective on Columbia Banking System from $32.00 to $30.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $30.38.
Check Out Our Latest Stock Report on COLB
Columbia Banking System Profile
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Free Report)
Columbia Banking System, Inc operates as the holding company of Umpqua Bank that provides banking, private banking, mortgage, and other financial services in the United States. The company offers deposit products, including business, non-interest bearing checking, interest-bearing checking and savings, money market, and certificate of deposit accounts; and insured cash sweep and other investment sweep solutions.
See Also
Want to see what other hedge funds are holding COLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Columbia Banking System, Inc. (NASDAQ:COLB - Free Report).
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